Karen Houghton, Trust chief executive, said: “HLF have given us the green light to get going on our fantastic project.

“We have of course been doing lots of work behind the scenes, but this announcement means that once we sign the lease with Urban Splash, we can start to pay for architects and engineers to design the building in terms of its future.

“We can also begin works to make sure it is protected and doesn’t suffer further damage from the weather and start working on more detail of what will happen in the building.

“In short, it means HLF will release a significant amount of money for us to develop our plans for the future, and we’re delighted with the confidence they’ve demonstrated in us.”